Document Type

Article

Department or Administrative Unit

Economics

Publication Date

2009

Abstract

The U.S. dollar was in the line of fire as leaders from the largest developed and developing countries participated in the G8 meeting on July, 2009. China and other emerging market heavy-weights such as Russia and Brazil are pushing for debate on an eventual shift away from the dollar to a new global reserve currency. These countries are particularly concerned about the heavy debt burden of the United States and fear inflation will further debase the dollar which has lost 33 percent in value against other major currencies since 2002. Will the dollar continue as the main reserve currency of the world? What are the other currencies to watch as challengers to the throne? This paper address these questions.

Comments

This article was originally published in Global Economy Journal.

Journal

Global Economy Journal

Rights

Copyright © 2009 Berkeley Electronic Press

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